in Oracle R12 the P2P Cycle covers the entire process of product orservice procurement to the final payment
The different phases of P2P life cycle involves:-Souring.
Create and Manage Negotiations ( RFx,Auctions).
Contract Negotiations and Awards.
Catalog Content Management.-Ordering.
Requisition and Purchase Order generation.
Purchase order management and fulfillments.
RequisitionsPurchaseOrders ReceivingPaymentSupplier PerformanceCatalogContentManagementSupplier ManagementNegotiations& Awards